Live Verdure Ltd Appendix 4D Half-year report 1. Company details Name of entity: ABN: Reporting period: Previous period: Live Verdure Ltd 28 614 347 269 For the half-year ended 31 December 2024 For the half-year ended 31 December 2023 2. Results for announcement to the market % Revenues from ordinary activities $ up 1.14% to 1,110,353 Profit from ordinary activities after tax attributable to the owners of Live Verdure Ltd up 1665.70% to 77,083,673 Profit for the half-year attributable to the owners of Live Verdure Ltd 1665.70% to 77,083,673 up Dividends There were no dividends paid, recommended or declared during the current financial period. Comments Financial performance The profit for the consolidated entity after providing for income tax and non-controlling interest amounted to $77,083,673 (31 December 2023: loss of $4,923,315). The profit after tax of $77,083,673 (31 December 2023: loss $4,923,315), is inclusive of: non-cash net gain on remeasurement to fair value from the additional investment in the associate of $88,382,668 (31 December 2023: $nil); and non-cash sharebased payments expense of $10,058,187 (31 December 2023: $3,552,675). The net loss after removing these non-cash items is $1,240,808 (31 December 2023: $1,370,640). During the half-year period, revenue from ordinary activities increased to $1,110,353 compared to $1,097,833 in the previous corresponding period. During the half-year period ended 31 December 2024, Edible Beauty's business's: ● sales revenue comprised $950,847 against $810,599 in the prior period, which represented a 17% increase; ● e-commerce sale comprised $862,676 against $605,430 in the prior period, which represented a 42% increase; and ● wholesale revenue comprised $88,171 against $205,169, which represented a 57% decrease. Research and development tax incentive grants decreased to $36,600 (31 December 2023: $235,086) which primarily resulted from a decrease in research and development tax incentive grants during the current period. Interest revenue increased to $41,614 (31 December 2023: $6,596) due to holding higher cash balances as a result of option exercises during the period. During the half-year period, a share-based payment expense was booked amounting to $10,058,187 (31 December 2023: $3,552,675) relating to the issue of options to employees and consultants. Financial position The net assets increased during the half-year period from $2,637,604 at 30 June 2024 to $95,819,081. The increase in net assets of the Company was primarily due to the recognition of goodwill of $102,063,041 as a result of the additional 6% interest - and ultimate controlling stake of 51% - in Decidr.ai Pty Limited on 31 December 2024. This was offset by a new loan liability of $12,025,000 which fully funded the purchase. Investment inflows during the period of $8,465,784 came via the conversion of shareholder options to shares, funded the company’s operations and increased cash on hand at period end. The cash reserves of the Company increased to $4,615,864 as at 31 December 2024. Live Verdure Ltd Appendix 4D Half-year report The Directors consider Underlying Earnings Before Interest, Tax, Depreciation and Amortisation ('EBITDA') and Underlying EBIT to reflect the core earnings of the consolidated entity. Underlying EBITDA and underlying EBIT are financial measures which are not prescribed by Australian Accounting Standards ('AAS') and represent the profit or loss under AAS adjusted for non-cash and significant items. The following table summarises key reconciling items between statutory loss after income tax and underlying EBITDA for the current and previous half-year period: Consolidated 31 December 31 December 2024 2023 $ $ Revenue Gross margin Other income Underlying EBITDA Depreciation and amortisation Net interest expense Share based payment expense Net gain on remeasurement to fair value from the additional investment in the associate 1,110,353 731,585 36,600 (1,143,692) (20,746) (76,370) (10,058,187) 88,382,668 1,097,833 597,023 235,086 (1,319,027) (35,753) (15,860) (3,552,675) - Profit/(loss) before income tax expense 77,083,673 (4,923,315) 3. Net tangible assets 31 December 2024 30 June 2024 Cents Cents Net tangible assets per ordinary security (4.79) 4. Control gained over entities Name of entities (or group of entities) Decidr.ai Pty Ltd Date control gained 31 December 2024 5. Loss of control over entities Not applicable. 6. Dividends Current period There were no dividends paid, recommended or declared during the current financial period. Previous period There were no dividends paid, recommended or declared during the previous financial period. 7. Dividend reinvestment plans Not applicable. 1.21 Live Verdure Ltd Appendix 4D Half-year report 8. Details of associates and joint venture entities Decidr.ai Pty Limited was previously an associate company but became a subsidiary of the consolidated group on 31 December 2024, with the purchase of an additional 6% interest in the company taking it to a total 51% controlling interest. 9. Foreign entities Details of origin of accounting standards used in compiling the report: Not applicable. 10. Audit qualification or review Details of audit/review dispute or qualification (if any): The financial statements were subject to a review by the auditors and the review report is attached as part of the Interim Report. 11. Attachments Details of attachments (if any): The Interim Report of Live Verdure Ltd for the half-year ended 31 December 2024 is attached. 12. Signed Signed ___________________________ David Brudenell Executive Chairman Date: 28 February 2025 Live Verdure Ltd ABN 28 614 347 269 Interim Report - 31 December 2024 Live Verdure Ltd Contents 31 December 2024 Corporate directory Directors' report Auditor's independence declaration Consolidated statement of profit or loss and other comprehensive income Consolidated statement of financial position Consolidated statement of changes in equity Consolidated statement of cash flows Notes to the consolidated financial statements Directors' declaration Independent auditor's review report to the members of Live Verdure Ltd 1 2 3 6 7 8 9 10 11 19 20 Live Verdure Ltd Corporate directory 31 December 2024 Directors David Brudenell (Executive Chairman) Adrian Bunter (Non-Executive Director) Jenny Fielding (Non-Executive Director) Company secretary Elizabeth Spooner and David Hwang Chief financial officer David Brady Registered office Level 20 347 Kent Street Sydney NSW 2000 Principal place of business Level 20 347 Kent Street Sydney NSW 2000 Auditor MVAB Assurance Level 5, North Tower 485 La Trobe Street Melbourne VIC 3000 Tel: +61 3 9642 8000 Stock exchange listing Live Verdure Ltd shares are listed on the Australian Securities Exchange (ASX code: LV1) Website www.liveverdure.com.au 2 Live Verdure Ltd Directors' report 31 December 2024 The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'consolidated entity') consisting of Live Verdure Ltd (referred to hereafter as the 'Company' or 'parent entity') and the entities it controlled at the end of, or during, the half-year ended 31 December 2024. Directors The following persons were directors of Live Verdure Ltd during the whole of the financial half-year and up to the date of this report, unless otherwise stated: David Brudenell (Executive Chairman) Adrian Bunter (Non-Executive Director) Jenny Fielding (Non-Executive Director) Corey Montry (Non-Executive Director) Appointed Executive Chairman on 11 October 2024 Appointed on 1 August 2024 Resigned on 1 August 2024 Principal activities During the financial half-year, the principal continuing activities of the consolidated entity consisted of: ● development and online sale of Australian beauty, functional food and nutraceutical products, and ● development and commercialisation of the AI-powered B2B software products. Dividends There were no dividends paid, recommended or declared during the current or previous financial half-year. Review of operations The profit for the consolidated entity after providing for income tax and non-controlling interest amounted to $77,083,673 (31 December 2023: loss of $4,923,315). The profit after tax of $77,083,673 (31 December 2023: loss $4,923,315), is inclusive of: non-cash net gain on remeasurement to fair value from the additional investment in the associate of $88,382,668 (31 December 2023: $nil); and non-cash sharebased payments expense of $10,058,187 (31 December 2023: $3,552,675). The net loss after removing these non-cash items is $1,240,808 (31 December 2023: $1,370,640). Financial performance During the half-year period, revenue from ordinary activities increased to $1,110,353 compared to $1,097,833 in the previous corresponding period. During the half-year period ended 31 December 2024, Edible Beauty's business's: ● sales revenue comprised $950,847 against $810,599 in the prior period, which represented a 17% increase; ● e-commerce sale comprised $862,676 against $605,430 in the prior period, which represented a 42% increase; and ● wholesale revenue comprised $88,171 against $205,169, which represented a 57% decrease. Research and development tax incentive grants decreased to $36,600 (31 December 2023: $235,086) which primarily resulted from a decrease in research and development tax incentive grants during the current period. Interest revenue increased to $41,614 (31 December 2023: $6,596) due to holding higher cash balances as a result of option exercises during the period. During the half-year period, a share-based payment expense was booked amounting to $10,058,187 (31 December 2023: $3,552,675) relating to the issue of options to employees and consultants. Financial position The net assets increased during the half-year period from $2,637,604 at 30 June 2024 to $95,819,081. The increase in net assets of the Company was primarily due to the recognition of goodwill of $102,063,041 for the additional 6% interest purchased in Decidr.ai Pty Ltd ("Decidr") on 31 December 2024. This was offset by a new loan liability of $12,025,000 which fully funded the purchase. Investment inflows during the period of $8,465,784 comprising shareholder funds received to convert option holdings to shares, funding the Company’s operations and increased cash on hand at period end. The cash reserves of the Company increased to $4,615,864 (30 June 2024: $1,103,030) as at 31 December 2024. 3 Live Verdure Ltd Directors' report 31 December 2024 The Directors consider Underlying Earnings Before Interest, Tax, Depreciation and Amortisation ('EBITDA') and Underlying EBIT to reflect the core earnings of the consolidated entity. Underlying EBITDA and underlying EBIT are financial measures which are not prescribed by Australian Accounting Standards ('AAS') and represent the profit or loss under AAS adjusted for non-cash and significant items. The following table summarises key reconciling items between statutory loss after income tax and underlying EBITDA for the current and previous half-year period: 31 December 31 December 2024 2023 $ $ Revenue Gross margin Other income Underlying EBITDA Depreciation and amortisation Net interest expense Share based payment expense Net gain on remeasurement to fair value from the additional investment in the associate 1,110,353 731,585 36,600 (1,143,692) (20,746) (76,370) (10,058,187) 88,382,668 1,097,833 597,023 235,086 (1,319,027) (35,753) (15,860) (3,552,675) - Profit/(loss) before income tax expense 77,083,673 (4,923,315) Significant changes in the state of affairs On 19 August 2024, the Company entered into a Voluntary Escrow and Sell Down Deed with CPS Capital Group Pty Ltd ('CPS'), an option holder. Under the terms of the agreement, CPS has agreed to place shares resulting from the exercise of Advisory Options under escrow, with specific conditions and restrictions on disposal to show their long term and ingoing support for Live Verdure Limited (ASX: LV1). The Advisory Options covered by this agreement amount to a total of 12,000,000 unquoted options, exercisable at $0.10 each on or before 27 June 2027. These options are divided into two tranches of 6,000,000 options each and are currently not vested, as the vesting criteria has not yet been met. Upon the exercise of these options, the resulting shares will be subject to the following escrow periods: ● ● 12 month Escrow Period: No shares can be disposed of during the first 12 months following the exercise of the options. Ordinary Sell Down Period: In the 12 months following the initial escrow period, CPS may dispose of up to 25% of the escrowed shares during each three-month period, ensuring a controlled and orderly sell-down process. This agreement aligns with the Company's strategic objectives to maintain an orderly market and support long-term value creation for shareholders. On 4 September 2024, the Company announced a Memorandum of Understanding ('MOU') with Decidr Group Pty Limited. Given the success of the initial POC results, the Company executed a MOU with Decidr Group Pty Limited and Decidr, securing Decidr's IP position and evolving our approach to AI technology deployment and licensing. Total funding of $10.0m is required for the 45% shareholding by Live Verdure. The amount invested by the Company into Decir.ai as at half-year end totalled $4,996,552. On 13 September 2024, the Company announced that Decidr had entered into a strategic partnership with CareerOne Pty Ltd ('CareerOne'). The partnership will focus on the co-creation and deployment of AI-enabled solutions to businesses and job seekers in a revenue share structure, leveraging CareerOne’s extensive job data and Decidr's cutting-edge AI technology. Management believes this collaboration is an important first step in expanding the application of AI across the recruitment and human capital management sectors, During the period, the Company had investment inflows of $8,465,784 via the conversion of 28,679,643 shareholder options to shares. On 31 December 2024, the Company acquired an additional 6% of Decidr, increasing the Company's ownership to a controlling interest of 51%. The acquisition consideration is facilitated by a $13.2m loan by Decidr Group Pty. Ltd., payable over a 36 month term. The acquisition aligns with the strategic objectives outlined in the Memorandum of Understanding (MOU) between the Company and Decidr, cementing the consolidated entity's leadership in Al-driven innovation. 4 Live Verdure Ltd Directors' report 31 December 2024 There were no other significant changes in the state of affairs of the consolidated entity during the financial half-year. Matters subsequent to the end of the financial half-year On 16 January 2025, the consolidated entity's Al subsidiary, Decidr, formed strategic partnerships with BeeRoll Inc., a U.S based user-generated content platform, and Cohabit Technologies Pty Ltd, an Australian proptech company. These collaborations mark Decidr's entry into new verticals and demonstrate the versatility of its Al platform to deliver transformative solutions across industries. On 3 February 2025, the Company sent a letter to shareholders advising that a General Meeting will be held on Wednesday 5 March 2025. Shareholders will be asked to vote on a Resolution to Change of Company name. The current name is “Live Verdure Limited” and Resolution 1 seeks approval of Shareholders for the Company to change its name to “Decidr AI Industries Ltd”. The Company has reserved the name with ASIC. The Company has requested that the ASX ticker code be changes from “LV1” to “DAI” after the change of name is effective. This new ticker code “DAI” has been reserved by the Company. On 25 February 2025, the consolidated entity's Al subsidiary, Decidr, realised its first revenue ahead of schedule from AI coproduced products with platform partnership partner CareerOne. No other matter or circumstance has arisen since 31 December 2024 that has significantly affected, or may significantly affect the consolidated entity's operations, the results of those operations, or the consolidated entity's state of affairs in future financial years. Auditor's independence declaration A copy of the auditor's independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this directors' report. This report is made in accordance with a resolution of directors, pursuant to section 306(3)(a) of the Corporations Act 2001. On behalf of the directors ___________________________ David Brudenell Executive Chairman 28 February 2025 5 AUDITOR’S INDEPENDENCE REPORT UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 TO THE DIRECTORS OF LIVE VERDURE LTD I declare that, to the best of my knowledge and belief, during the half-year ended 31 December 2024 there have been: (i) no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the review; and (ii) no contraventions of any applicable code of professional conduct in relation to the review. MVAB ASSURANCE Chartered Accountants Signed at Melbourne this 28th day of February 2025 SAM CLARINGBOLD Partner Live Verdure Ltd Consolidated statement of profit or loss and other comprehensive income For the half-year ended 31 December 2024 Note Revenue Revenue Cost of sales Gross margin 4 31 December 31 December 2024 2023 $ $ 1,110,353 (378,768) 731,585 1,097,833 (500,810) 597,023 36,600 41,614 88,382,668 235,086 6,596 - Expenses Administration and corporate expenses Technical, new product and market development Sales and marketing expenses Selling and distribution Depreciation and amortisation expense Share-based payments expenses Finance costs (1,032,805) (331,375) (452,110) (137,201) (20,746) (10,058,187) (76,370) (1,523,450) (153,438) (322,099) (158,745) (35,753) (3,552,675) (15,860) Profit/(loss) before income tax expense 77,083,673 (4,923,315) - - 77,083,673 (4,923,315) - - Total comprehensive income/(loss) for the half-year attributable to the owners of Live Verdure Ltd 77,083,673 (4,923,315) Profit/(loss) for the half-year is attributable to: Non-controlling interest Owners of Live Verdure Ltd 77,083,673 (4,923,315) Cents Cents Other income Interest revenue Net gain on remeasurement to fair value from additional investment in the associate 5 Income tax expense Profit/(loss) after income tax expense for the half-year attributable to the owners of Live Verdure Ltd Other comprehensive income for the half-year, net of tax Basic earnings per share Diluted earnings per share 8 8 55.57 34.36 (4.80) (4.80) The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes 7 Live Verdure Ltd Consolidated statement of financial position As at 31 December 2024 Note 31 December 2024 30 June 2024 $ $ Assets Current assets Cash and cash equivalents Trade and other receivables Inventories Other assets Total current assets 4,615,864 290,707 612,635 880,528 6,399,734 1,103,030 76,453 439,912 13,504 1,632,899 74,849 103,180,375 103,255,224 1,809,032 1,725 1,127,130 21,132 2,959,019 109,654,958 4,591,918 1,453,509 3,755,745 61,723 98,054 5,369,031 597,350 22,290 24,778 1,309,144 1,953,562 197,002 8,269,844 8,466,846 752 752 Total liabilities 13,835,877 1,954,314 Net assets 95,819,081 2,637,604 21,007,033 25,260,396 51,805,900 98,073,329 (2,254,248) 12,713,168 15,202,209 (25,277,773) 2,637,604 - 95,819,081 2,637,604 Non-current assets Investments accounted for using the equity method Property, plant and equipment Intangibles Right-of-use assets Total non-current assets 5 6 Total assets Liabilities Current liabilities Trade and other payables Borrowings Lease liabilities Employee benefits Deferred consideration Total current liabilities 7 Non-current liabilities Trade and other payables Borrowings Total non-current liabilities 7 Equity Issued capital Reserves Retained profits/(accumulated losses) Equity attributable to the owners of Live Verdure Ltd Non-controlling interest 9 Total equity The above consolidated statement of financial position should be read in conjunction with the accompanying notes 8 Live Verdure Ltd Consolidated statement of changes in equity For the half-year ended 31 December 2024 Issued capital $ Reserves $ Accumulated losses $ 9,714,646 3,443,088 (12,234,757) 922,977 Loss after income tax expense for the half-year Other comprehensive income for the half-year, net of tax - - (4,923,315) - (4,923,315) - Total comprehensive loss for the half-year - - (4,923,315) (4,923,315) 562,070 - 6,001,125 - 562,070 6,001,125 10,276,716 9,444,213 (17,158,072) 2,562,857 Noncontrolling interest $ Total equity $ Balance at 1 July 2023 Transactions with owners in their capacity as owners: Contributions of equity, net of transaction costs (note 9) Share-based payments (note 12) Balance at 31 December 2023 Total equity $ Issued capital $ Reserves $ Accumulated losses $ 12,713,168 15,202,209 (25,277,773) - 2,637,604 Profit after income tax expense for the half-year Other comprehensive income for the half-year, net of tax - - 77,083,673 - 77,083,673 - - - - - Total comprehensive income for the half-year - - 77,083,673 - 77,083,673 Transactions with owners in their capacity as owners: Contributions of equity, net of transaction costs (note 9) Share-based payments (note 12) Non-controlling interests on acquisition 8,293,865 - 10,058,187 - - (2,254,248) 8,293,865 10,058,187 (2,254,248) Balance at 31 December 2024 21,007,033 25,260,396 51,805,900 (2,254,248) 95,819,081 Balance at 1 July 2024 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes 9 Live Verdure Ltd Consolidated statement of cash flows For the half-year ended 31 December 2024 Note 31 December 31 December 2024 2023 $ $ Cash flows from operating activities Receipts from customers (inclusive of GST) Payments to suppliers and employees (inclusive of GST) Receipts of research and development tax incentive and other grants Interest received Interest and other finance costs paid 1,012,972 (2,335,559) 36,600 20,046 (237) 1,148,137 (2,727,193) 235,086 4,924 (3,502) Net cash used in operating activities (1,266,178) (1,342,548) Cash flows from investing activities Payment for purchase of business, net of cash acquired Payments for property, plant and equipment Payment for investment in associate company Payments for loans to other companies (48,367) (7,478) (3,630,927) - (47,925) (89,282) (3,686,772) (137,207) 8,465,784 - 2,880,000 11,250 (259,504) (37,247) Net cash from financing activities 8,465,784 2,594,499 Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the financial half-year 3,512,834 1,103,030 1,114,744 168,561 Cash and cash equivalents at the end of the financial half-year 4,615,864 1,283,305 11 Net cash used in investing activities Cash flows from financing activities Proceeds from issue of shares Proceeds from exercise of options Share issue transaction costs Transaction costs related to loans and borrowings 9 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes 10 Live Verdure Ltd Notes to the consolidated financial statements 31 December 2024 Note 1. General information The financial statements cover Live Verdure Ltd as a consolidated entity consisting of Live Verdure Ltd and the entities it controlled at the end of, or during, the half-year. The financial statements are presented in Australian dollars, which is Live Verdure Ltd's functional and presentation currency. Live Verdure Ltd is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is: Level 20 347 Kent Street Sydney NSW 2000 A description of the nature of the consolidated entity's operations and its principal activities are included in the directors' report, which is not part of the financial statements. The financial statements were authorised for issue, in accordance with a resolution of directors, on 28 February 2025. Note 2. Material accounting policy information These general purpose financial statements for the interim half-year reporting period ended 31 December 2024 have been prepared in accordance with Australian Accounting Standard AASB 134 'Interim Financial Reporting' and the Corporations Act 2001, as appropriate for for-profit oriented entities. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 'Interim Financial Reporting'. These general purpose financial statements do not include all the notes of the type normally included in annual financial statements. Accordingly, these financial statements are to be read in conjunction with the annual report for the year ended 30 June 2024 and any public announcements made by the Company during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001. The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, unless otherwise stated. New or amended Accounting Standards and Interpretations adopted The consolidated entity has adopted all of the new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period. The adoption of these Accounting Standards and Interpretations did not have any significant impact on the financial performance or position of the consolidated entity during the financial half-year ended 31 December 2024 and are not expected to have a significant impact for the full financial year ending 30 June 2025. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. Going concern During the financial half-year ended 31 December 2024, the Company reported a net profit of $77,083,673 (31 December 2023 loss: $4,923,315) and a negative cash outflow from operating activities of $1,266,178 (31 December 2023: $1,342,548). The profit after tax of $77,083,673 is inclusive of: non-cash net gain on remeasurement from reclassification of investment at amortised cost to fair value of $88,382,668 (31 December 2023: $nil); (31 December 2023: $nil); and non-cash share-based payments expense of $10,058,187 (31 December 2023: $3,552,675). The net loss after removing these non-cash items is $1,240,808 (31 December 2023: $1,370,640). The financial statements have been prepared on a going concern basis, which contemplates the continuity of normal business activity and the realisation of assets and the settlement of liabilities in the normal course of business. During the year, the Company raised $8,293,865 before transaction costs from the exercise of options. The Directors expect the exercising of options to continue in the second half of the current 2025 financial year, due to a large tranche of in the money options which are due to expire on 31 August 2025. 11 Live Verdure Ltd Notes to the consolidated financial statements 31 December 2024 Note 2. Material accounting policy information (continued) The Directors have the ability to undertake further capital raisings in the ensuing 12 months, together with continued growth in revenue and containment of discretionary expenditure as appropriate. As a result, the Directors believe that the Company will continue as a going concern. Accordingly, the financial statements have been prepared on a going concern basis. No adjustments have been made relating to the recoverability and classification of assets and classification of liabilities that might be necessary should the Company not continue as a going concern. Note 3. Operating segments Identification of reportable operating segments The consolidated entity is organised into one operating segment: development and online sale of Australian beauty, functional food and nutraceutical products. This operating segment is based on the internal reports that are reviewed and used by the Board of Directors (who are identified as the Chief Operating Decision Makers ('CODM')) in assessing performance and in determining the allocation of resources. There is no aggregation of operating segments. The accounting policies adopted for internal reporting to the CODM are consistent with those adopted in the financial statements. The information reported to the CODM is on a monthly basis. As the information reported to the CODM are the results of the consolidated entity as a whole, the results of the one operating segment are as shown throughout these financial statements and are not duplicated here. Note 4. Revenue 31 December 31 December 2024 2023 $ $ Sale of goods 1,110,353 1,097,833 Note 5. Investments accounted for using the equity method 31 December 2024 30 June 2024 $ $ Non-current assets Investment in associate - 1,809,032 On 31 December 2024, the Company acquired an additional 6% control of Decidr.ai Pty Ltd ('Decidr') increasing the Company's ownership to a controlling interest of 51%, and recognising Decidr as a subsidiary from 31 December 2024. Reconciliations Reconciliations of the carrying amount at the beginning and end of the current financial half-year and the previous financial year are set out below: 12 Live Verdure Ltd Notes to the consolidated financial statements 31 December 2024 Note 5. Investments accounted for using the equity method (continued) 31 December 2024 30 June 2024 $ $ Opening carrying amount Additions (Loss) after income tax Net gain on remeasurement to fair value from additional investm